BANKING AFFAIRS

Detailed explanation-1: -The Securities and Exchange Board of India (Merchant Bankers) Regulations, 1992, was amended on December 09, 1997 by the SEBI (Merchant Bankers) Amendment Regulations, 1997, vide. S.O. 837(E), which prohibited registered merchant bankers from undertaking any activity other than that in the securities market.

Detailed explanation-2: -Yes. As per regulation 9A of SEBI (Merchant Bankers) Regulations, 1992, change in control shall affect the obligation to obtain a fresh registration under section 12 of the SEBI Act, 1992. Further, a Merchant Banker is required to obtain fresh certificate of registration within a period of six months.

Detailed explanation-3: -SEBI’s main role in the Indian financial system is to regulate that the Indian stock markets in an orderly manner. SEBI was formed to protect the interests of investors and traders in the Indian stock market.

Detailed explanation-4: -SEBI will give authorization for a merchant banker to operate for 3 years only. Without SEBI’s authorization, merchant bankers cannot operate. 2. The minimum net worth of merchant banker should be Rs.

Detailed explanation-5: -(MERCHANT BANKERS) REGULATIONS, 1992 In exercise of the powers conferred by Section 30 of the Securities and Exchange Board of India Act, 1992 (15 of 1992), the Board with the previous approval of the Central Government hereby makes the following regulations, namely: CHAPTER I PRELIMINARY Short title and commencement.